earnings
confidence high
sentiment neutral
materiality 0.70
NOV Q2 2021 revenue $1.42B, net loss $26M; adjusted EBITDA rises to $104M
NOV Inc.
2021-Q2 EPS reported
-$0.37
revenue$2,666,000,000
- Revenue of $1.42B, up 13% QoQ but down 5% YoY; net loss $26M includes $15M in one-time charges.
- Adjusted EBITDA $104M (7.3% of sales), up from $47M in Q1; Wellbore Tech EBITDA $63M.
- Completion & Production Solutions book-to-bill 167%; backlog $1.0B. Rig Tech backlog $2.66B.
- Repaid $183M of 2.60% Senior Notes due 2022; total debt $1.69B, cash $1.57B.
- Offshore wind contracts signed; first NOVOS/MPowerD integrated MPD project delivered.